By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks dipped on Monday, weighed down by soft data out of China and Boeing's latest production setback. Merger and acquisition announcements, however, as well as company-specific news including on Facebook and Alexion Pharma, helped keep the S&P 500 and Nasdaq from bigger losses. China's exports unexpectedly tumbled 18.1 percent in February, against expectations for a 6.8 percent rise, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy. There's a little bit of profit-taking," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.
Mt. Gox, once the world's largest bitcoin exchange, received U.S. bankruptcy protection on Monday to temporarily halt U.S. legal action against the Japanese company by traders who allege the operation was a fraud. Judge Harlin Hale in Dallas granted temporary bankruptcy protection to Mt. Gox, which had filed for bankruptcy protection in Japan in February. Attorneys for Mt. Gox said without bankruptcy protection the company would be irreparably harmed by a proposed class action in Chicago federal court and a breach of contract case in Seattle federal court.
By Ben Klayman DETROIT (Reuters) - In her first big test as General Motors Co's chief executive, Mary Barra has taken a hands-on approach behind the scenes in directing the automaker's response to ignition-switch problems that have been linked to 13 deaths. On Monday, GM said the team conducting an internal probe ordered up by Barra of the recall of more than 1.6 million vehicles is being led by the lawyer who investigated Lehman Brothers after the financial services firm collapsed in 2008. Barra has been heavily focused on the recall since she learned of the issue in late January, about two weeks after she took over as the industry's first female CEO. "Mary believes that her time is best spent on making the recall work as smoothly as possible for our customers," GM chief spokesman Selim Bingol said in an email.